Legal & General Group Plc Takes Position in Glacier Bancorp, Inc. $GBCI

Legal & General Group Plc acquired a new position in shares of Glacier Bancorp, Inc. (NYSE:GBCI) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 179,052 shares of the company’s stock, valued at approximately $9,236,000.

A number of other hedge funds have also modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Glacier Bancorp during the second quarter worth $913,766,000. Norges Bank purchased a new stake in shares of Glacier Bancorp during the fourth quarter valued at $67,582,000. Madison Asset Management LLC acquired a new position in shares of Glacier Bancorp in the 2nd quarter valued at $59,048,000. Bank of New York Mellon Corp acquired a new position in shares of Glacier Bancorp in the 2nd quarter valued at $55,775,000. Finally, Vanguard Group Inc. increased its stake in Glacier Bancorp by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 13,359,157 shares of the company’s stock worth $588,471,000 after purchasing an additional 870,335 shares in the last quarter. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Glacier Bancorp Price Performance

GBCI opened at $45.33 on Wednesday. The firm has a market capitalization of $5.90 billion, a P/E ratio of 18.58 and a beta of 0.72. The stock has a fifty day moving average of $50.01 and a 200-day moving average of $48.18. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.06. Glacier Bancorp, Inc. has a 12-month low of $39.90 and a 12-month high of $54.58.

Glacier Bancorp (NYSE:GBCI) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $0.76 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.76. The business had revenue of $320.94 million for the quarter. Glacier Bancorp had a return on equity of 7.97% and a net margin of 19.72%.During the same quarter in the prior year, the firm posted $0.57 EPS. Equities analysts forecast that Glacier Bancorp, Inc. will post 3.11 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Tuesday, July 7th were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, July 7th. This represents a $1.32 dividend on an annualized basis and a yield of 2.9%. Glacier Bancorp’s dividend payout ratio (DPR) is presently 54.10%.

Wall Street Analyst Weigh In

Several analysts have issued reports on GBCI shares. Weiss Ratings upgraded Glacier Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 5th. DA Davidson reissued a “buy” rating and issued a $58.00 target price on shares of Glacier Bancorp in a research report on Monday, July 27th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.17.

Insiders Place Their Bets

In other Glacier Bancorp news, Chairman Craig A. Langel bought 2,250 shares of the stock in a transaction on Friday, August 28th. The shares were bought at an average price of $47.04 per share, with a total value of $105,840.00. Following the purchase, the chairman directly owned 98,684 shares in the company, valued at $4,642,095.36. The trade was a 2.33% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.48% of the stock is currently owned by company insiders.

Glacier Bancorp Profile

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana. Through its network of community banks, the company delivers commercial and retail banking services to individuals, small and medium-sized businesses, and agricultural clients. With a commitment to relationship-driven banking, Glacier Bancorp combines local market expertise with regional scale to offer customized financial solutions that address the unique needs of the communities it serves.

Established in 1955 as Glacier Bank, the company has expanded both organically and through targeted acquisitions to build a presence across the Mountain West and into the Upper Midwest and Southwest.